Prime Minister Sheikh Hasina on Sunday (January 21, 2024) inaugurated the month-long Dhaka International Trade Fair (DITF) at Bangabandhu Bangladesh-China Friendship Exhibition Centre (BBCFEC) at Purbachal. Five foreign countries -- Turkey, India, Pakistan, Singapore and Iran -- alongside local companies are taking part in the 28th edition of the fair where exhibitors will showcase products. Hong Kong, a special administrative region of China, is also participating in it. The Prime Minister also declared Handicrafts Products as the product of the year for 2024. State Minister for Commerce Ahsanul Islam, Commerce Secretary Tapan Kanti Ghosh President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Mahbubul Alam and vice-chairman of the Export Promotion Bureau (EPB) AHM Ahsan were also present on dais. Read: 4 Bangladeshi businesses participate in Mandalay International Trade Fair The fair will continue from January 21 to February 20. The Ministry of Commerce and the EPB have been organising trade fairs since 1995. The DITF usually commences on 1 January each year. However, the EPB postponed the fair due to the 12th national elections held on January 7. The trade fair will run from 10 am to 9 pm daily and to 10 pm on weekends. The entry fee is Tk 50 for adults and Tk 25 for children. Freedom fighters and the physically challenged people need no fee. BRTC buses have been arranged from Farmgate and Kuril Biswa Road to the fair premises for the convenience of general visitors. Read: BGMEA, Oxfam discuss ways to collaborate with buyers to make trade fairer A total of 330 stalls have been allotted along with 23 pavilions and 27 mini pavilions. There will also be 15 food stalls of different categories which can accommodate up to 500 people. There are also a prayer room, children's playground, media corner, office rooms, medical rooms, guest-rooms for officials, and stores. The parking area can provide facilities for 500 vehicles. Read more: Month-long trade fair in Chattogram kicks off today

RMG exports from Bangladesh to the European Union (EU) saw 9.93 percent growth during the fiscal year 2022-23 — from $21.40 billion in FY 2021-22 to $23.52 billion in FY 2022-23, according to the Export Promotion Bureau (EPB). Read: Bangladesh to retain duty-free access for 98% of exports, including RMG as UK introduces new scheme However, exports to some major markets in the EU region, such as Germany and Poland, have declined significantly, said BGMEA Director Mohiuddin Rubel quoting the facts. In FY 2022-23, apparel exports to Spain, France, Italy, Denmark and Netherland were worth US$ 3.37 billion, US$ 2.94 billion, US$ 2.27 billion, US$ 1.28 billion, and US$ 1.85 billion respectively. Read: Elevated Expressway’s Airport-Farmgate section to open in September: Quader Export to USA, the top apparel export destination of Bangladesh, declined by 5.51 percent to US$ 8.51 billion, from US$ 9.01 billion in FY 2021-22, in the mentioned period. At the same time, RMG exports to the UK and Canada increased by 11.78 percent and 16.55 percent respectively. During the mentioned year, Bangladesh’s exports to non-traditional markets has achieved significant growth of 31.38 percent. Read: RMG exports in FY23 almost $47bn, 85% of total exports Among the major non-traditional markets, exports to Japan, Australia and India crossed the one billion dollar milestone. The share of non-traditional markets in total RMG export also increased by 17.82 percent in FY 2022-23 from 14.96 percent in FY 2021-22.

Bangladesh exported goods worth $27.22 billion in the first six months till December of the current fiscal year 2022-23 amid a growing crisis of foreign exchange, according to an official report. The country received $10.37 billion from exports only in the last two months (November and December), which is the highest ever export earnings in two months. According to the Export Promotion Bureau (EPB), Bangladesh exported goods worth $5.37 billion in December, which is also the highest single-month export earnings. Read More: Bangladesh's ASM Packall Export to invest $4.8m in Mongla EPZ In November 2022, the export earnings crossed $5 billion for the first time. In December, the export earnings made another record. The export earnings in December 2021 were $4.9 billion. The export grew by 9.33 percent year-on-year in December this year. The readymade garment contributed the highest in the export earnings as usual. Read More: July-November: Bangladesh’s exports to major countries show "encouraging growth" The export earnings from the ready-made garments increased by 15.35% year-on-year in December from $4.04 billion in December 2021 to $4.67 billion in December this year. Faruque Hassan, President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA), said the apparel sector has seen good growth in December due to a unit price hike. The contribution of the apparel sector soared due to good prices and the increase in the ratio of high-end products in recent times, he said. Read More: Export of jute products a boon for Satkhira women He also said that Bangladesh witnessed a rush of orders after the post-Covid-19 pandemic period due to the increased credibility of the country keeping factories operational during the pandemic. He said now garment makers are exporting jackets at prices above $40 per piece, against previous $30. The export earnings were $3.91 billion and $4.36 billion in September and October this year. The export was registering a 14.70 percent rise to bag $3.98 billion year-on-year in July, thanks to the good performance of the apparel sector. Read More: Bangladesh seeks zero tariff on apparel exports to US at 6th TICFA meeting Bangladesh bagged $4.60 billion through exports in August, registering a 36.18 percent year-on-year growth while it slipped by 6.25 percent (Y-o-Y) to $3.91 billion in September as the flow of orders for garments slowed amid higher inflation and the Russia-Ukraine war.

Bangladesh’s export income fell by 6.25 percent in September after a positive growth during the last 13 months, according to official figures. The Export Promotion Bureau (EPB) released updated statistics on export earnings on Sunday. It said exports of agricultural products, frozen food, handicrafts, bicycles, and furniture decreased in the first three months of the current fiscal year. Bangladesh exported goods worth $3.9 billion last month (September), which is 6.25 percent less than the same period last year, the EPB data revealed. However, overall the exports in the first three months of the current financial year 2022-23 are in a positive trend and saw a growth of 13.38 percent. During this period, products worth $12.49 billion were exported in the first three months of current fiscal year that was worth $11.02 billion. Read: Bangladesh to stay safe, sustainable apparel sourcing destination: BGMEA Overall exports declined last month mainly due to a decline in apparel exports. The export of readymade garments was worth $3.16 billion in the previous month, which is 7.52 percent lower than in September last year. Exporting of both woven and knit garments declined last month. However, there is a 13.41 percent growth in apparel exports in the first three months of the current financial year. Exporters of readymade garments have said that inflation in the USA and EU countries has become dire due to the Russia-Ukraine war. People there have cut back on purchases other than fuel for cars and groceries. Because of that, foreign buyers are placing less orders for two to three months. Many companies were not allowing the shipment even after the products of the purchase order were ready, they said. BGMEA Director Md. Mohiuddin Rubel said on Sunday that BGMEA had already shared early indication of growth slowdown from September onwards, which is apparently reflected in export data for September.  The global retail market is disrupted by many challenges starting from post covid container freight and supply chain crisis, price hike of raw materials, and then anticipated recession in the global economy, which is halting retail sales and demand for clothing, he said.  Rubel said buyers were following cautious steps to make their inventory and supply chain optimum, so some of them are even holding back production and orders.  “Altogether it has been quite a fluid and vulnerable situation, where we have all the strengths and possibilities to grow given our sustainability and competitiveness strides, yet the global economic outlook makes it difficult to foresee something bright for the final quarter of the year 2022,” he added.

Despite the ongoing global crisis and inflation, Bangladesh exported over USD $4.6 billion worth of goods in August with a record 36.18 percent growth. Bangladesh's export worth in August also exceeded the set target. The export target for the second month of the current financial year (2022-23) was $4.3 billion, Export Promotion Bureau (EPB) revealed the data today (September 4, 2022). According to the statistics, the export earnings growth of Bangladesh has reached to 25.31 percent at the end of the first two months of the current financial year. The total export in two months was $8.59 billion, which is 4.52 percent over the target. Also read: All export-oriented industries should get equal facilities: Salman F Rahman According to EPB, in FY2021-22, goods worth $3.38 billion were exported in August. Compared to the last financial year, $1.22 billion more in exports have been made this year. On the other hand, in July, the first month of this fiscal year, the export of goods worth Tk $3.98 billion was 14.72 percent more compared to the same period of the previous year. Readymade garment products, home textiles, and other apparel products have played a significant role in exports as always. Garment exports in July and August were worth $7.11 billion. The growth is 26 percent. Read: Exports to China can grow with extension of duty-free access to 380-plus new products At the same time, the export of leather and leather products was worth $22.32 crore. The growth is about 28 percent. And the export of jute goods was $15.66 crore, where the growth is about 23 percent.

Bangladesh's exports in July grew by nearly 15 percent from a year back and exceeded the target, in a strong start to the new fiscal. Amid the deficit and widening gap in the balance of payments during the last fiscal, the Export Promotion Bureau (EPB), released this information on Tuesday. According to the EPB data, Bangladesh exported goods worth USD $3.98 billion in July of FY23, which was $3.47 billion in the same month of FY22. It shows that the export income grew by around 15 percent. Read:Mongla Port witnesses first RMG export thanks to Padma Bridge The government has set an export target for July of $3.92 billion and at the end of the month, the export overshot by $ 60 million. However, compared to June, exports fell by nearly $1.0 billion in July. Last June, Bangladesh exported goods worth $4.91 billion. According to export data for July, knit and woven garments exports amounted to around $3.37 billion, which is 16.61 per cent higher than the same period of the previous year. Read Bangladesh sets export earnings growth target at 15% this fiscal Garment exports worth $2.89 billion in July last year. However, in the recently concluded fiscal year 2021-22, the export growth in the garment sector was around 35 per cent. The EPB data shows that Bangladesh exported goods and services in FY22 worth $60.08 billion, which grew by 17.80 per cent more than the fiscal target of $51 billion. In the outgoing fiscal year, Bangladesh earned $52.08 billion from exporting goods against the target of $43.5 billion. It shows 19.73 per cent growth. Read Leather sector can hit $12 bn in export earnings by 2030: Speakers From the service sector, Bangladesh earned $8 billion in FY22 against the target $7.5 billion, which saw a growth 6.67 per cent than the fiscal target. Bangladesh made a record in exporting both goods and services in FY22 thanks to increasing consumption across the globe. The government set a 15 percent credit growth target in the current fiscal year and a $67 billion export target for the current fiscal year. Read Export earnings cross $50 billion riding on RMG

Bangladesh exported goods valued at USD $3.83 billion in May, which was the lowest in 9 months of the current fiscal year (FY), according to an Export Promotion Bureau report released on Thursday. The fall comes amid declining remittance from Bangladeshi expatriates and the economic crisis due to Russia Ukraine war. The EPB, however, said despite the fall of export income Bangladesh will make an export record of $40.71 billion in 11 months (July to May) in the current FY 22.  It shows 34.9 per cent growth of export income compared to FY 21. Earlier in FY-19, Bangladesh earned $40.53 billion in a fiscal year that was the highest so far. The officials of export promotion bureau and businesses hoped that the country will make a history exporting around $50 billion in this fiscal as the a rush for export order was evident after easing of Covid-19 pandemic in the Western world, the main destination of Bangladesh products. But the export orders saw a downfall after the Russian invasion in the Ukraine. READ: Jute, jute goods export income rose by 40pc Professor Mustafijur Rahman, distinguish fellow of CPD said, though Bangladesh does not export a big volume of goods to Russia and Ukraine, the war has impacted severely on the economy of European Union countries. Prominent Western economists have warned of another recession due to Russian invasion, if the war is prolonged.  In that case the global economy along with Bangladesh will face a new challenge, he said. The EPB data showed that the export earnings in April 2022 increased by 51.18 per cent to $4.73 billion from $3.13 billion in the same month of 2021. The highest earning was $4.90 billion in the December of this fiscal year. The second highest was in January of $ 4.75 billion. In March export earnings stood at $ 4.76 billion that was $ 4.29 billion in February. Bangladesh set an export target of $51 billion for FY 22. Of which 40.71 has been achieved so far.

Bangladesh's consumer electronics exports jumped 8.5 times in the first nine months of the fiscal year 2020-21, compared to the same period of the previous fiscal year, according to Export Promotion Bureau data. During the July-March period of the FY2019-20, Bangladesh earned around $1.44 million from the exports of electronics goods – including refrigerator and freezer, air conditioner, LED television, washing machine, blender, rice cooker, gas stove, induction cooker, fan, hot plate, refrigerator compressor and components – according to the EPB. In the same period of FY21, the country's earnings from the electronics goods export rose to $12.22 million, about 8.5 times higher than the export earnings of the previous fiscal year's same period. READ: Vision Electronics launches Google-approved Android TV Industry insiders think that the local electronics manufacturing industry will emerge as the country's major export earning sector like the readymade garment sector if the government provides necessary policy support including export incentives.  One and a half-decade ago, the local demand for electronics products were met with the imported goods. Now the local brands have proved their mettle in capturing more than 90% of the markets by overcoming the foreign brands' complete dominance.  Also, international market analysts said Bangladeshi brands have enough potential to grab a lion's share in the global consumer electronics market.  READ: Domestic electronics, technology products should get priority in govt procurement: Speakers  They said China is the major supplying country of most global consumer electronics brands. But the growing trade tension between the US and China have led the global brands to lean towards establishing business relations with other Asian countries. 

Bangladesh’s export earnings dropped by 4.79 pc  in the first eight months of the current fiscal year compared to the corresponding period of 2018-19 fiscal year.

Friday saw a huge turnout at the ongoing Dhaka International Trade Fair (DITF), bringing some relief for the exhibitors but most visitors complained of unhealthy environment and poor management.